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BUSINESS
September 26, 2013 | By E. Scott Reckard
The Fed's decision to continue its economic stimulus program unabated has sent fixed mortgage rates plunging to their lowest level in two months, according to Freddie Mac's weekly survey , with the 30-year loan averaging 4.32%, down from 4.5% a week earlier. Lenders were offering 15-year fixed mortgages to solid borrowers at 3.37% early this week, down from 3.54% last week. Initial rates for variable mortgages fell as well, Freddie Mac said Thursday. QUIZ: How well do you understand the Fed stimulus?
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BUSINESS
June 11, 2003 | From Reuters
Congressional critics of Freddie Mac said Tuesday that they would hold hearings on the home mortgage financier that ousted its top management Monday over an earnings restatement going back to 2000. Meanwhile, the Securities and Exchange Commission was investigating whether Freddie Mac has violated securities laws, a person close to the matter said. Rep. Richard H. Baker (R-La.
BUSINESS
March 28, 2013 | By E. Scott Reckard
Borrowers with solid credit were being offered 30-year fixed home loans at an average 3.57% this week, up from 3.54% a week ago, according to Freddie Mac 's latest survey. The average offering rate for a 15-year mortgage -- a popular option for those refinancing homes -- rose from 2.72% to 2.76%, the home-finance firm said Thursday. The starting rate for loans that are fixed for five years before becoming variable rose to 2.61% from 2.68%, the survey found.  QUIZ: How much do you know about mortgages?
BUSINESS
March 7, 2013 | By E. Scott Reckard
Unlike the rampaging stock market, mortgage rates are in a holding pattern, with lenders offering the 30-year fixed loan this week at an average 3.52%, up from 3.51% last week, Freddie Mac said in its weekly survey. The interest rate on a 15-year fixed loan, a popular choice for borrowers refinancing mortgages, held steady at 2.76%, Freddie said Thursday. Borrowers would have paid 0.7% of the loan amount in upfront fees to the lender. QUIZ: How much do you know about mortgages?
BUSINESS
March 12, 2010 | By E. Scott Reckard
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. The mortgage giant's weekly survey asks lenders what rates they were offering -- and the upfront fees they would charge -- for borrowers with good credit and a 20% down payment. Upfront fees averaged 0.7% of the loan amount. The average rate offered on 15-year fixed-rate mortgages, popular as a refinance loan for borrowers wanting to pay off their mortgages faster, was 4.32%.
BUSINESS
May 3, 2012 | By E. Scott Reckard
Stop me if you've heard this before, but mortgage rates are again at record lows, with lenders offering 30-year loans at an average of 3.84%, Freddie Mac's weekly survey shows. That's down from 3.88% last week and a previous record low of 3.87% in February. All of the rates would have seemed unimaginable as recently as 2008, when the 30-year rate averaged more than 6%, or 2009, when the typical rate exceeded 5%.  The 15-year fixed mortgage also dropped to a new record, according to Freddie Mac, the big government-supported loan buyer.
BUSINESS
December 19, 2013 | By E. Scott Reckard
Mortgage rates rose a bit this week following positive news on home building, with Freddie Mac saying lenders were offering a 30-year fixed-rate loan at an average of 4.47%, up from 4.42% last week. The average for a 15-year fixed was 3.51%, up from 3.43% last week, Freddie Mac reported Thursday. Its survey assumes borrowers have solid credit and income, provide at least 20% down payments or home equity, and pay less than 1% of the loan amount in lender fees and points. Start rates on popular types of adjustable rate loans also were higher, Freddie Mac said.
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